This country needs step-change. Gareth Morgan is willing to provide it:

• A Comprehensive Capital Tax (CCT) on all land, buildings, plant and equipment. Raises NZ$19 billion.
• A flat income tax rate of 25% on all corporate, personal and trust income.
• NZ$10,000 guaranteed minimum income for every adult to replace all benefits (which means the first NZ$40,000 of income is tax free).
• GST to remain at 12.5%

Don’t know if I agree with a Comprehensive Capital Tax on everything (it’s likely to hurt industries who’ll simply flee to countries where there’s lower labour costs and not capital tax – India or China perhaps?). However, Gareth appears to have more testicular fortitude than our current Minister of Finance, who despite his rugged southern man persona prefers to dismiss good ideas as “too radical” and offer piss-weak bandage solutions for gaping wounds.